Alan Greenspan has stated several times that he had to let the housing bubble happen because housing around the globe was "bubbling" (not his exact word). IOW, he justified his stance because "every other country was doing it."
However, what other countries? He never has stated specifically. If the US has the largest economy, then what other country had a housing bubble? My thought is he's just making excuses.
Ben, where would I go to learn about the financial health of Chevy Chase Bank? My company keeps a very large cash management account there, I thought it prudent to check up on how safe my cash is.
Also, Ben, do you think these congressional proposals to eliminate 'speculation in the oil markets' could be the first step in towards capital controls?
"If the US has the largest economy, then what other country had a housing bubble?"
The UK's housing bubble was as or more severe (depending which particular indicator you choose) as the US's. Spain and Ireland probably fall into the same league.
The Financial Ninja is a collection of my thoughts and opinions about current economic and market conditions. These are not buy and sell recommendations. Use your head and do your own research. This is a forum to stimulate discussion and debate.
I started trading during the tech bubble when I was still in high school. My trading has financed my education and I have since completed a BA in Economics and an MBA with a concentration in Finance. I have worked as both a proprietary equity and fixed income derivatives trader.
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BS Bernanke needs to be included too. The pupil makes the master look like an "Also Ran" when it comes to destroying the USD.
Alan Greenspan has stated several times that he had to let the housing bubble happen because housing around the globe was "bubbling" (not his exact word). IOW, he justified his stance because "every other country was doing it."
However, what other countries? He never has stated specifically. If the US has the largest economy, then what other country had a housing bubble? My thought is he's just making excuses.
Ben, where would I go to learn about the financial health of Chevy Chase Bank? My company keeps a very large cash management account there, I thought it prudent to check up on how safe my cash is.
Also, Ben, do you think these congressional proposals to eliminate 'speculation in the oil markets' could be the first step in towards capital controls?
"If the US has the largest economy, then what other country had a housing bubble?"
The UK's housing bubble was as or more severe (depending which particular indicator you choose) as the US's. Spain and Ireland probably fall into the same league.
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